tech
SpaceX Falls to $135 IPO Price Ahead of Starship Launch
The stock has steadily fallen from the euphoric post-IPO high, showing that markets may be sobering up to the promises CEO Elon Musk made before and after SpaceX went public.
TL;DR
- SpaceX shares dropped to $135, their IPO price, after a steady decline since going public.
- The stock's initial surge to over $200 post-IPO has reversed, with shares losing value weekly.
- Market volatility is attributed to a small public float (4% of shares) and constant company attention.
- Broader tech market deflation and investor reevaluation of Elon Musk's vision are impacting SpaceX's stock.
- Bonds sold by SpaceX are also experiencing a downturn.
- The upcoming Starship test launch is a significant early test for the company's stock price durability.
- SpaceX is adopting a 'fly, fail, fix' approach for the Starship launch, with both stages expected to explode during simulated landings.